We’re halfway through the Windermere Foundation’s 30-year anniversary and our offices aren’t showing any signs of slowing down their donations. Last quarter, the Windermere Foundation collected $556,937, bringing our year-to-date total to $865,029, and our grand total to $38,871,157 raised since 1989. These donations are used to support non-profit organizations and programs that help low-income and homeless families throughout the Western U.S.
Every Windermere office has its own Windermere Foundation fund account from which they make donations to help those in need in their local communities. This quarter, we’re highlighting Windermere offices in Oregon, Utah, and Colorado, which are each doing their part to give back by hosting clothing and donation drives, contributing to educational programs, and funding weekend backpack meals for public elementary schools.
The Windermere office in Medford, Oregon collected clothing donations for CASA of Jackson County’s summer clothing drive for kids in local foster care homes. The Windermere agents also volunteered their time to help sort and put away the collected items. According to CASA, the donations are enough to help 150 kids going through the court and foster care system. CASA was grateful to have the help and support of the Windermere Medford office.
“Thank you all for everything! Your team goes over the top each year and it is so fun and heartwarming. If we could only share the stories of these children, but please know what a difference having a new summer outfit, shoes, swimsuits, etc. makes. Many, many happy hearts and smiles to come!” ~Erin Carpenter, Development and Media Manager, CASA of Jackson County
The Windermere offices in Utah combined their funding to make a donation to American Foundation for Suicide Prevention (AFSP) Salt Lake City Walk. Through the Windermere Foundation, they donated $5,000 to raise awareness about mental health issues and teen suicide. The mission of the AFSP is to save lives and bring hope to those affected by suicide. The programs are offered in schools and include speakers which are usually the surviving parents or other siblings telling their stories of loss to prevent others from making the same deadly mistakes.
The Windermere DTC office in Centennial, CO donated $5,000 to The CE Shop Foundation to support their recent fundraising campaign at the Elephant Rock Cycling Festival. Donations collected will help fund weekend backpacks of food for two Denver public elementary schools for the 2019-2020 school year. The CE Shop Foundation is on a quest to help Eliminate Childhood Hunger.
Thanks to our agents, offices, and everyone who supports the Windermere Foundation, we have been able to make a difference in the lives of many families in our local communities. This year we celebrate the Windermere Foundation’s 30th anniversary with a renewed year-long focus on giving back, doing more, and providing service to the communities that have made us who we are.
Our goal for 2019 is to raise over $40 million in total donations. If you’d like to help us reach this goal, or learn more about the Windermere Foundation, please visit WindermereFoundation.com.
The market in our region appears to be moderating. Inventory is up, prices are relatively stable and homes are taking a bit longer to sell. However, with less than two months of available inventory, supply is still far short of demand. Steady buyer activity, low interest rates and a thriving economy are making for a strong summer in the housing market.
The median price of a single-family home on the Eastside was $950,000 in June, down 3% from the same time last year and up $21,000 from May. Many buyers are looking to take advantage of the Eastside jobs boom with Amazon announcing plans to build a 43-story tower in Bellevue and Google expecting to reach 1 million square feet of office space in Kirkland.
There was good news for buyers in June as a growing supply of homes helped boost inventory close to 2012 listing levels. The median price of a single-family home in King County was $695,000. That figure is a 3% drop from a year ago and virtually unchanged from May. 33% of homes sold above list price; another sign prices are moderating when compared to 52% of homes sold over list price this time last year.
Home inventory in Seattle inched slightly higher in June. However, with less than two months of supply, the city is still a solid seller’s market. Apple’s plan to turn Seattle into a key engineering hub can only add to demand. The median price of a single-family home in Seattle was $781,000, down 4% from a year ago and nearly unchanged from May.
After hovering around $500,000 since March, home prices in Snohomish County crept up in June. The median price of a single-family home was $515,500, as compared to $511,500 last June. Snohomish County continues to attract buyers priced out of the King County market, putting an additional strain on supply which stands a just 1.5 months of inventory.
This post originally appeared on the GetTheWreport.com.
Have you seen Apartment Therapy and the NAR’s “Beginner’s Guide To Buying Your Forever Home?” It’s perfect for the Millennial (or any Buyer really) who is feeling befuddled by the process and needs a place to start. The guide outlines the six steps to closing and has interactive “to-do” lists and other fun tools to help explain the process. While a few of the details vary by state and city, the guide is a broad overview and covers the need to knows for anyone about to embark on a home buying journey.
Photo Source: FleetCarma.com
Electric cars help lower emissions and fuel costs, improve fuel economy, and bolster energy security. And considering the volatility of gas prices—and their general skyward trajectory—electric fuel shows promise as an economic alternative. But switching to an electric vehicle entails more than new driving habits and a conversation piece with strangers. It’s also a lifestyle update. From setting up a charging station in the garage to maintaining optimal temperatures therein, check out these useful garage preparation tips to assure your electric vehicle battery is in tip-top shape.
Selecting a Charger: Level 1 vs. Level 2
Charging an electric vehicle is more involved than charging your smartphone, and you’ll likely need a home station charger. That said, make sure you familiarize yourself with the two main levels of electric vehicle chargers supplied by home-based charging equipment and most public charging stations so you can choose the best one for your home and car.
Level 1 Chargers
A Level 1 cord set charger delivers a standard household current of 110 or 120 volts and comes with most plug-in vehicles upon purchase. It’s outfitted with a three-pronged, household plug at one end that’s connected to a control box by a short cord. A longer 15-to-20-foot cord running from the other side of the box connects directly to the vehicle itself.
- If you have the time, a Level 1 could be the way to go. But be forewarned: What you get is, more or less, a trickle charge that affords roughly three to five miles per charging hour. For instance, the Nissan Leaf takes around 24 hours to fully charge on a standard 120-volt household outlet.
- The upside is, Level 1 equipment doesn’t entail an elaborate setup of high-power circuit breakers or dedicated electrical lines, which are required by major appliances like stoves and refrigerators.
- Because cord sets are portable, plug-in vehicles can be charged virtually anywhere there’s a standard outlet. Provided the circuit isn’t a household outlet that’s patched into the same circuit as other demanding appliances—in which case you could trip a circuit breaker.
Level 2 Chargers
You can also consider installing a Level 2 charger, which delivers 240 volts and replenishes pure electric vehicles in about three hours—which is about seven to eight times faster than Level 1 equipment. Unlike the simplicity of Level 1 setups, though, Level 2 chargers may warrant the services of a professional due to the rigmarole of electrical codes, equipment setup, and necessary inspections.
- Level 2 chargers cost anywhere between under $300 to over $1500, the price ultimately depending on cord length and amperage.
- Level 2 outputs typically range between 16 to 30 amps, but professionals often recommend around 30- to 40-amp systems—an adequate overnight charge for most plug-in electric cars.
Installing a Charging Station
It’s worth mentioning that the “charger” you’re installing is technically referred to as Electric Vehicle Service Equipment (EVSE). This is the wall-mounted box with cord and plug that delivers electricity and functions as a communication and safety unit for the actual charger situated inside the vehicle itself. The EVSE ensures the battery doesn’t overheat and shuts the charging session down if there’s a short circuit, power surge, or any other type of faulty hardware.
If you’ve opted for a Level 2 ESVE, you’ll likely need to reach out to a professional electrician to wire up equipment and determine where the ESVE should be situated in regards to where your vehicle is parked. Notwithstanding factors like outdated wiring, meters, and breaker panels, updating the garage for your electric ride should actually be pretty straightforward.
Cost of Installation
The installation cost generally hinges on the work involved—such as the amount of wire that needs to be run, whether additional or replacement breaker panels are necessary, and the cost of labor in your area. This could vary between just a few hundred dollars to a couple thousand. It’s also worth looking into your local utility company’s offerings, as you may qualify for special rates or a rebate when you install an ESVE.
Originally published on the Windermere Blog by Meaghan McGlynn
Photo Credit: Rawpixel via Unsplash
Few topics cause more division among economists than the age-old debate of whether you’re better off paying off your mortgage earlier, or investing that money instead. And there’s a good reason why that debate continues; both sides make compelling arguments.
For many people, their mortgage is the largest expense they will ever incur in their lives. So if given the chance, it only makes logical sense you would want to pay it off as quickly as possible. On the other hand, a mortgage is also the cheapest money you will ever borrow, and it’s generally considered good debt. Any extra money you obtain could be definitely be put to good use elsewhere.
The reality is, however, a little less cut and clear. For some homeowners, paying off their mortgage earlier is the right answer. While for others, it would be far more advantageous to invest their money.
Advantages of paying off your mortgage earlier
- You’ll pay less interest: Each time you make a mortgage payment, a portion is dedicated towards interest, and another towards principal (we’ll ignore other costs for now). Interest is calculated monthly by taking your remaining balance, the length of your amortization period, and the interest rate agreed upon with your lending institution.
If you have a $300,000 mortgage, at a 4% fixed rate over 30 years, your monthly payment would be around $1,432.25. By the time you finish paying off your mortgage, you would have paid a total of $515,609, of which $215,609 were interest.
If you wanted to lower the total amount you pay on interest, you don’t need to make a large lump sum to make a difference. If you were to increase your monthly mortgage payment to $1,632.25 (a $200 a month increase), you would be saving $50,298 in interest, and you’ll pay off your mortgage 6 years and 3 months earlier.
Though this is an oversimplified example, it shows how even a small increase in monthly payments makes a big difference in the long run.
- Every additional dollar towards your principal has a guaranteed return on investment: Every additional payment you make towards your mortgage has a direct effect in lowering the amount you pay in interest. In fact, each additional payment is, in fact, an investment. And unlike stocks, bonds, and other investment vehicles, you are guaranteed to have a return on your investment.
- Enforced discipline: It takes real commitment to invest your money wisely each month instead of spending it elsewhere.
Your monthly mortgage payments are a form of enforced discipline since you know you can’t afford to miss them. It’s far easier to set a higher monthly payment towards your mortgage and stick to it than making regular investments on your own.
Besides, once your home is completely paid off, you can dedicate a larger portion of your income towards investments, your children or grandchildren’s education, or simply cut down on your working hours.
Advantages of investing your money
- A greater return on your investment: The biggest reason why you should invest your money instead comes down to a simple, green truth: there’s more money to be made in investments.
Suppose that instead of dedicating an additional $200 towards your monthly mortgage payment, you decide to invest it in a conservative index fund which tracks S&P 500’s index. You start your investment today with $200 and add an additional $200 each month for the next 30 years. By the end of the term, if the index fund had a modest yield of 5% per year, you will have earned $91,739 in interest, and the total value of your investment would be $163,939.
If you think that 5% per year is a little too optimistic, all we have to do is see the S&P 500 performance between December 2002 and December 2012, which averaged an annual yield of 7.10%.
- A greater level of diversification: Real estate has historically been one of the safest vehicles of investment available, but it’s still subject to market forces and changes in government policies. The forces that affect the stock and bonds markets are not always the same that affect real estate, because the former are subject to their issuer’s economic performance, while property values could change due to local events.
By putting your extra money towards investments, you are diversifying your investment portfolio and spreading out your risk. If you are relying exclusively on the value of your home, you are in essence putting all your eggs in one basket.
- Greater liquidity: Homes are a great investment, but it takes time to sell a home even in the best of circumstances. So if you need emergency funds now, it’s a lot easier to sell stocks and bonds than a home.
The Summer 2019 issue of Windermere Living is out now and features outdoor living spaces that would make you want to live outside for the next few months, picnic ideas, Fix it or forget it when it’s time to sell, a piece on how the Windermere Foundation helps communities blossom. Plus, ways to brighten up your home with the hottest color of the year. Windermere Living is an exclusive listings magazine published by Windermere Real Estate. READ the full issue.
The craving to move happens to every homeowner as they start to feel bogged down, or like they need a restart. That sense of newness doesn’t have to be dramatic, however. The great part about having a home of your own is you can make improvements and give your home a chance to evolve over time. You just need to help your home live up to its potential! These are seven of our favorite improvements to help you make the most of your home.
1. Find Your Home’s Purpose
Each home is as unique as its owners, so in order to fully utilize your home, consider how you view your home’s purpose. Some people like to entertain, others find it a calm space in the frenzy of daily life; some nurture their families and others nurture their creativity. Your home’s purpose can be any combination of these and more, but it helps to consider the function of your space in order to ultimately find its purpose. Knowing your home’s purpose will help guide you as you move room to room while you refresh the space.
2. Assemble a List
Create a list of haves/needs/wants. Answer questions like: what is it about the space that isn’t working; how could it work better to fulfill the purpose; where could I move some of my items to make them feel new again?
3. Make an “Inspiration Board”
An “inspiration board” is a great way to visualize your home’s decor. You can create a board online with a tool like Pinterest to organize ideas you love, you can also use the ‘Save’ feature on Instagram, or the old-fashioned way with a cork board and magazines. Doing this will allow you to see all the elements you like in one place so that you can then tie it all together into a room you love.
Photo Credit: @Krista4Coral on Instagram
4. Choose a New Palette
Renew the lighting and color by shaking up your color palette. It’s easy to fall into the white/beige standby to keep our rooms neutral, but sometimes a color that provides a contrast to your décor will make the room pop. Add a new color to the palette, refresh a wall with an accent color that you already feature in your decor, or overhaul your curtains and throws with a brand new hue.
What about the Pantone color of the year? See our blog on how to incorporate Living Coral into your home.
Moving furniture around is another easy way to reinvent your space. Try placing your sofa on an angle to open up your entertaining room or move your lamps to improve lighting. You can also think about moving a piece of furniture into a room to give it new life, like using a unique dresser for a credenza or a chair as a side table.
Photo Credit: HouseBeautiful
6. Create a Collection
If you have items that you like to collect, think about how to transform that collection into something you can display. If you don’t already have a collection of loved objects think about what this collection would be for you. You can center a room design around your travel souvenirs, old camera collection, figurines, unique plates, or familial objects. Adding to this collection over time can be a great way to keep your spaces new while maintaining a personal feel to your decor.
7. Find Design Motivation
Home design evolves over time and can be sustained by finding items that inspire you. Read magazines and books that inspire your interests in architecture, design, art, etc. Or find stores and flea markets that sell pieces that influence your aesthetic. Another way to get in-tune and keep your aesthetic with you is to bring a camera with you when you’re doing your favorite activities and bring back memories or inspirations.
Important Note: Have fun with it! Homes and aesthetics evolve over time, add and subtract as you go, and don’t stress if the room doesn’t feel finished. You’ll get there eventually.
Originally published on the Windermere Blog by Meaghan McGlynn
The Washington Waterfront Home Tour is coming up on June 22nd and 23rd from 1-4 pm. The home tour features some of the finest waterfront homes in Washington. Sponsored by Windermere, the tour will showcase almost 70 homes for sale this year. If you’ve ever dreamt of owning a home on the water this is a great time to tour homes around the Puget Sound and Lake Washington. Head here for more information bout the tour and to see the featured properties that will be open.